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South Austin Booming Real Estate
South Austin: Booming Real Estate
South Austin can be described as the younger sibling of north Austin in many ways. It was the northern section of Austin that received all the attention in the earlier phase of development that took place in the second half of the 20th century. South Austin may have been slow to take off but today it has many neighborhoods giving tough competition to the localities in north Austin in terms of development and access to modern amenities.
In 2006, median home prices in north Austin were $190,000. A decade later, median home prices in this part of the city jumped to $375,000. This reflects an increase of nearly 97%. In contrast, median home prices in south Austin in 2006 were $160,000. 10 years later in 2016, median home prices in south Austin were $299,000, reflecting an increase of nearly 87%. These stats show that home prices have increased in south Austin comparable to north Austin.
One aspect of the housing market where south Austin has an edge over north Austin is the number of sales over a time period of one decade. From 2006 till 2016, the number of properties sold in north Austin was 9,495. In contrast, the number of homes sold in south Austin in the same period was 14,256. So while prices of properties have increased more in north Austin, south Austin has sold nearly 5,000 more homes in the same period in comparison to north Austin. This clearly shows that south Austin is slowly overtaking north Austin as a more dynamic housing market and the area that has become the preferred choice of a higher number of individuals to move in and live along with their families.
In general, you should head to south Austin if you are looking for more affordable housing. However, there is also zip code 78704 inside south Austin which has become popular as one of the wealthiest localities in Austin. Oak Hill is an area of south Austin that is conservative and famous as a locality for the middle income households. As the name implies, you will find lots of oak trees and hills in this area. You will find many options in terms of homes in Oak Hill. You will also find a locality called Circle C Ranch where homes are upscale and you will find that the area boasts all modern amenities. There are great schools, parks, swimming pools, and even golf courses in this part of south Austin.
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